Bicara Therapeutics (NASDAQ:BCAX) Sets New 52-Week Low - What's Next?

Key Points

• Bicara Therapeutics shares plunged 43.7%, reaching a new 52-week low of $8.90 before last trading at $9.98, sharply below the previous close of $17.48.
• Analyst sentiment remains mixed: the stock has a consensus “Moderate Buy” rating and an average price target of $32.82, but HSBC downgraded it to “equal weight” and Weiss Ratings maintained a “sell” rating.
• Company insiders sold 58,750 shares worth approximately $1.55 million over the past three months, while several institutional investors—including BlackRock and Jupiter Topco—recently established or increased positions.

Bicara Therapeutics Inc. (NASDAQ:BCAX - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $8.90 and last traded at $9.98, with a volume of 8,238,482 shares changing hands. The stock had previously closed at $17.48.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Citigroup reiterated a "market outperform" rating on shares of Bicara Therapeutics in a research report on Friday, August 21st. HSBC downgraded shares of Bicara Therapeutics to an "equal weight" rating in a research note on Tuesday, September 22nd. Cantor Fitzgerald reissued an "overweight" rating on shares of Bicara Therapeutics in a research report on Thursday, September 10th. Wells Fargo & Company upped their price target on shares of Bicara Therapeutics from $16.00 to $23.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Bicara Therapeutics in a report on Friday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $32.82.

Bicara Therapeutics Stock Down 43.7%

The company has a 50-day moving average price of $20.67 and a two-hundred day moving average price of $21.28. The stock has a market capitalization of $651.58 million, a P/E ratio of -3.18 and a beta of -0.70.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.82) EPS for the quarter, meeting analysts' consensus estimates of ($0.82). On average, sell-side analysts expect that Bicara Therapeutics Inc. will post -3.49 earnings per share for the current year.

Insider Buying and Selling at Bicara Therapeutics

In other news, CFO Ivan Hyep sold 12,500 shares of the business's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $27.97, for a total transaction of $349,625.00. Following the completion of the transaction, the chief financial officer directly owned 129,855 shares in the company, valued at $3,632,044.35. The trade was a 8.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Claire Mazumdar sold 10,000 shares of the company's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $27.98, for a total transaction of $279,800.00. Following the completion of the transaction, the chief executive officer directly owned 362,152 shares in the company, valued at approximately $10,133,012.96. The trade was a 2.69% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 58,750 shares of company stock valued at $1,554,800 in the last three months. Company insiders own 13.80% of the company's stock.

Institutional Investors Weigh In On Bicara Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Siren L.L.C. grew its position in Bicara Therapeutics by 11.2% during the first quarter. Siren L.L.C. now owns 5,802,970 shares of the company's stock worth $115,421,000 after buying an additional 586,001 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Bicara Therapeutics in the 2nd quarter valued at about $114,250,000. Janus Henderson Group PLC raised its holdings in shares of Bicara Therapeutics by 26.2% in the 1st quarter. Janus Henderson Group PLC now owns 3,339,218 shares of the company's stock valued at $66,350,000 after acquiring an additional 692,933 shares in the last quarter. Jupiter Topco LLC purchased a new stake in shares of Bicara Therapeutics in the 2nd quarter valued at about $93,957,000. Finally, Orbimed Advisors LLC boosted its position in shares of Bicara Therapeutics by 219.1% during the 1st quarter. Orbimed Advisors LLC now owns 667,300 shares of the company's stock valued at $13,273,000 after acquiring an additional 458,200 shares during the last quarter.

Bicara Therapeutics Company Profile

Bicara Therapeutics Inc is a clinical-stage biotechnology company developing bifunctional therapies for the treatment of solid tumors. The company's approach is designed to combine tumor-targeting activity with immune-system modulation in a single therapeutic candidate.

Bicara's lead product candidate is ficerafusp alfa, also known as BCA101. The investigational therapy is designed to target epidermal growth factor receptor (EGFR) on cancer cells while simultaneously trapping transforming growth factor beta (TGF-β), a signaling protein that can contribute to tumor growth and immune suppression.

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